Adani Green Energy’s Q3 net profit plunged nearly 99% to ₹5 crore.
Total expenses surged to ₹2,961 crore in Q3 FY26 from ₹2,329 crore a year ago.
Finance costs increased to ₹1,698 crore from ₹1,251 crore, further weighing on profitability.
Adani Green Energy on Friday reported a nearly 98.94% decline in its consolidated net profit to ₹5 crore for the quarter ended December 2025, primarily due to rising expenses. In the same quarter the previous year, the company had posted a consolidated net profit of ₹474 crore, according to exchange filings.
Total expenses for the Adani Group firm surged to ₹2,961 crore during the third quarter of FY26, up from ₹2,329 crore a year ago, while finance costs jumped to ₹1,698 crore from ₹1,251 crore. Despite this, total income rose to ₹2,837 crore from ₹2,636 crore in the year-ago period.
1 January 2026
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For the quarter, revenue from power supply rose 21% year-on-year to ₹2,420 crore, while EBITDA increased 23% to ₹2,269 crore, with margins at 90.6%. Cash profit for the quarter declined 18% to ₹812 crore. Over the nine-month period, revenue grew 25% to ₹8,508 crore, EBITDA increased 24% to ₹7,921 crore with margins of 91.5%, and cash profit rose 7% to ₹3,906 crore.
“In calendar year 2026, Adani Green Energy has continued its exceptional growth trajectory, adding 5.6 GW of renewable energy capacity—representing nearly 14% of all new solar and wind capacity installed across India," said Ashish Khanna, CEO of Adani Green Energy.
He added that the company now has an operational capacity of 17.2 GW.
"Our landmark Khavda project, the world’s largest renewable energy installation, is progressing at an accelerated pace. We are on track for the deployment of one of the world's largest single-location battery energy storage projects in the coming months. Our hydro pumped storage project on the Chitravathi river in Andhra Pradesh is also on track," he added.
On Friday, the company’s shares were down over 14% to ₹772 apiece, after an update on an ongoing bribery case in the US triggered declines across most Adani Group stocks. A Reuters report claimed that the US Securities and Exchange Commission (SEC) has asked a federal court for permission to serve legal summons to Gautam Adani and his nephew Sagar Adani via email and their US-based lawyers.
Shares of the flagship company, Adani Enterprises, were trading 9% lower at ₹1,890.23 apiece, its lowest level since May 19, 2023.
Adani Energy Solutions shares fell over 12% to ₹811.65 apiece, while Adani Ports stock was down 7% at ₹1,311. Adani Green Energy stock declined the most among Adani Group stocks, down 14.4%.
Adani Green Operational Update
In the first nine months of the financial year, the company generated over 27 billion units of renewable electricity. Operational capacity from April to December 2025 grew 48% year-on-year to 17.2 GW, keeping the company on track to meet its 50 GW target.
During this period, AGEL added 2,995 MW of greenfield capacity, exceeding 90% of the total capacity added in the previous financial year. Over the past year, total greenfield additions reached 5,630 MW, including 4,187 MW of solar capacity (3,137 MW in Khavda, Gujarat; 800 MW in Rajasthan; 250 MW in Andhra Pradesh), 462 MW of wind capacity in Khavda, and 981 MW of solar-wind hybrid capacity, also in Khavda.
Energy sales rose 37% to 27,636 million units (MU) in the nine months of FY26, up from 20,108 MU in the same period last year.
